Abstract or Introduction
Companies all over the world have always tried to create and capitalise on competitive
advantages, ensuring profitability and long term survival. Due to the increasing competition
in most markets, mainly caused by globalization, liberalisation and better information of the
customers, the need to gain advantages in competition is now more essential than ever.
This essay, labelled “Cultural diversity is a source of international competitive advantage.
Critically evaluate”, shall point out the complexity of this topic.
“What business strategy is all about; what distinguishes it from all other kinds of business
planning - is, in a word, competitive advantage. Without competitors there would be no
need for strategy, for the sole purpose of strategic planning is to enable the company to
gain, as effectively as possible, a sustainable edge over its competitors.” Keniche Ohnae
(http://www.quotationspage.com/quote/8183.html: accessed on 30.11.2005)
Michael Porter, professor at the Harvard Business School, stated that competitive
advantages depend on different factors like the availability of resources, the size and
sophistication of the market or the type of strategic networks. (Schneider and Barsoux,
1997) He also said that choosing the right strategies make the company unique, build
brand reputation or set the right goal. (Porter, 2005)
In general, competitive advantage is often associated with specific business operations
like mentioned above.
Little people think that also cultural diversity provides a source of competitive advantage. [...]
- Quote paper
- Stefanie Hoffmann (Author), 2005, Cultural Diversity is a source of international competitive advantage., Munich, GRIN Verlag, https://www.grin.com/document/55112